Qatar Investment Authority opens office in NY

The sovereign wealth fund is in the process of diversifying its portfolio into the US and Asia.

As per the CEO of one of the Gulf’s most acquisitive sovereign wealth fund, the Qatar Investment Authority, the company is setting down roots in San Francisco to manage its growing portfolio in the United States.

“Soon we will be opening an office in the Silicon Valley in San Francisco,” said Sheikh Abdullah bin Mohammed bin Saud al-Thani to reporters at an investment conference.

The Qatar Investment Authority is one of the most active sovereign investors in the world. It has business stakes in almost every sector of business ranging from real estate to luxury goods.

Although much of its activity has traditionally been focussed in Europe, of late the fund is diversifying into the United States and Asia.

In 2015, having opened an office in New York, Qatar had said it would spend $35 billion in the United States over the next five years.

As per Sovereign Wealth Center, an industry tracker, QIA has nearly $334 billion of assets under its management.